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Newport set to diversify away from banks

0
  • by Colin Marrs
  • in 151 News · Treasury
  • — 24 Jan, 2019

Newport City Council is planning to diversify its treasury investments into safer and higher yielding assets.

All of the authority’s surplus cash is currently invested in short-term unsecured bank deposits and loans to other local authorities.

The council’s treasury management strategy for next year says: “Given the increasing risk and very low returns from short-term unsecured bank investments, the authority aims to diversify into more secure and/or higher yielding asset classes during 2019/20.

“This is especially the case for the estimated £10m that is available for longer-term investment.”

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